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Stock Market & Financial Investment News

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February 20, 2013
06:03 EDTBAC, OMX, RDS.A, CME, C, ODP, CVX, STI, JPM, BAOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Thereís a renewed willingness by some banks to lend cheaply and on flexible terms. But a new concern is emerging: Is the pendulum swinging too far the other way? So-called commercial and industrial loans were up 4.4% in Q4 and 16% for all of 2012, according to SNL Financial data, the Wall Street Journal reports...Some oil companies (CVX, RDS.A) are still making multibillion-dollar bets on finding crude in the deepest waters of the Gulf of Mexico. The target is called the Lower Tertiary, considered by many to be the Gulfs last frontier, the Wall Street Journal reports...REUTERS: Boeing (BA) has found a way to fix battery problems with its grounded 787 Dreamliner jets which involves increasing the space between cells, sources say, Reuters reports...Antitrust experts said there were no guarantees that a deal to merge Office Depot (ODP) with OfficeMax (OMX) would win government approval, Reuters reports...BLOOMBERG: The biggest U.S. banks (JPM, C, BAC, STI) are lending the smallest portion of their deposits in five years as cash floods in from savers and a slow economy damps demand from borrowers. The average loan-to-deposit ratio for the top eight commercial banks fell to 84% in Q4 from 87% a year earlier and 101% in 2007, according to Credit Suisse Group data, Bloomberg reports...CME Groupís (CME) decision to allow users of its interest-rate swap future contracts to avoid tougher oversight is drawing scrutiny from the Commodity Futures Trading Commission, Bloomberg reports.
News For A;BA;ODP;OMX;JPM;C;BAC;STI;CME From The Last 14 Days
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January 21, 2015
12:48 EDTBABoeing exec sees demand for 737 MAX, 777, despite oil slump, Reuters says
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09:43 EDTCMEISS recommends GFI shareholders vote against merger with CME Group
BGC Partners (BGCP) announced that Institutional Shareholder Services has recommended that shareholders of GFI Group Inc. (GFIG) vote AGAINST the merger agreement with CME Group (CME) at the special meeting of GFI shareholders scheduled for January 27, 2015. Howard Lutnick, Chairman and CEO of BGC, said: "We are pleased that, after thorough and independent analysis, ISS recognizes the economic inferiority and conflicted nature of the proposed CME-GFI management $5.85 stock and cash transaction, as well as the economic superiority of BGC's $6.10 all-cash offer. We also note that ISS recommends that GFI shareholders tender their shares to BGC as long as the CME-GFI management bid remains below our offer price. We remain fully committed to completing this transaction and urge shareholders to protect the value of their investment in GFI by voting against all of the proposals related to the CME transaction at the special meeting of GFI shareholders. We also remind GFI shareholders to tender their shares into our clearly superior offer in order to receive the higher value to which they are entitled." In its analysis, ISS noted the following regarding the proposed CME transaction: "As the proposed transaction is economically inferior to the unsolicited all-cash competing offer, yet it is not at all clear that unaffiliated shareholders incur any greater downside risk in holding out for the economically superior offer from this ongoing bidding war, shareholders should vote AGAINST the proposed transaction on its current termsÖ.and, if that offer does not improve to at least parity with the BGC bid, tender into the BGC offer instead..."
06:23 EDTBAUnited may switch Boeing 787 Dreamliner order to larger 777-300ERs, WSJ says
United Continental (UAL) is close to a deal to change at least 10 of its Boeing (BA) 787 Dreamliners that are on order to 777-300ER jetliners, which are larger, The Wall Street Journal reports, citing two sources. The deal is in the process of being finalized, the sources say, and would help preserve Boeing's production rates and transition to the 777x. Reference Link
January 20, 2015
16:00 EDTCOptions Update; January 20, 2015
iPath S&P 500 VIX Short-Term Futures down 36c to 35.12 Option volume leaders: AAPL TSLA TWTR GILD NFLX MGM ABX AMAT JNJ C according to Track Data.
13:33 EDTBABoeing selected to build satellite by New York Broadband LLC
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13:09 EDTODPSources: Staples to spurn Starboard's call to merge with Office Depot, FT says
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10:47 EDTODPStaples says will consider 'all actions' that would create shareholder value
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10:23 EDTODPStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
09:38 EDTC, BACActive equity options trading
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09:31 EDTODPActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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08:59 EDTODPStarboard urged Staples to explore Office Depot merger, Bloomberg says
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08:54 EDTBACBank of America upgraded to Conviction Buy from Buy at Goldman
Goldman added Bank of America to the Conviction Buy List with an $18 price target following recent underperformance. The firm continues to believe shares to will be driven by better than expected top-line growth, accelerated capital returns, and a business shift towards less capital intensive earnings streams.
08:39 EDTCMECME raises GFI Group offer to $5.85 per share
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08:37 EDTCMECME raises GFI Group offer to $5.85 per share
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08:21 EDTBAGlobal Eagle to offer connectivity in Boeing 737 airplanes
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07:28 EDTBACTreasury Institute for Higher Education to hold a symposium
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06:58 EDTJPMBlackRock, Fidelity close to launching 'dark pool,' WSJ reports
Some of the largest mutual fund firms, including Fidelity, BlackRock (BLK), Bank of New York Mellon (BK),, T. Row Price (TROW) and JP Morgan (JPM) are among the firms that are close to launching a new "dark pool," The Wall Street Journal reports, citing sources. The effort, which involves nine firms in total, would look to shut out sell-side trading desks and high-speed trading firms. Reference Link
06:09 EDTCMECME Group upgraded to Buy from Neutral at Citigroup
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January 18, 2015
16:57 EDTCCiti may have lost more than $150M on Swiss franc volatility, Bloomberg says
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15:14 EDTCMashreqbank interested in Citigroupís Egyptian consumer unit, Bloomberg says
Dubai-based bank, Mashreqbank PSC confirmed it is interested in acquiring Citigroupís Egyptian consumer banking unit, says Bloomberg citing comments from Mashreqbank PSC CEO Abdul Aziz Al Ghurair. Reference Link
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